An online real estate agency is launching a quasi-franchise operation it calls Agency In A Box and claims applicants will “effectively” keep 90% of their fees.
Online Estate Agents, a company that owns the Sellmyhome and RentMyHome brands, is introducing what it describes as a partner licensing system.
The model has no entry fees but charges licensees £ 500 plus VAT per month and takes 10 percent of each transaction fee.
Licensees benefit from a team of back office, marketing, training and what CEO Shezad Tayub calls “a recognized brand” with access to major portals and a CRM.
“All they need is a desire to achieve the best and be part of something that will become a national and family brand. We have already received a lot of positive responses from potential partners and the fact that we waive the management fees for the first three months for the first 50 successful partners shows that we are ready to contribute to their success, ”he says. .
He says that the Rentmyhome brand offers a full rental and property management business and that its new Financemyhome brand is “already generating a significant contribution”.
Sellmyhome charges an upfront ‘standard essential’ fee of £ 799 to £ 999 including VAT, and a no-sale and toll-free ‘essential plus’ of £ 1,499 to £ 1,999 including VAT. There is also a “traditional premium” pricing of 0.75% plus VAT.
Tayub adds: “We believe in the easy [for agent applicants] and our model is easy to get in and out of with only a rolling 12 month contract and a renewal option. We are not interested in creating long term punitive contracts because we believe that a contract is as good as the relationship behind it. If that doesn’t work for an agent, they can move on.
“However, we are convinced that by creating the right environment for success and giving the agent the lion’s share of the rewards, we will all benefit.”